Business
XPEL Reports Revenue Growth of 15.2%; Net Income Growth of 28.8% in First Quarter 2025; Announces $50 million Stock Repurchase Program
SAN ANTONIO, Texas--(BUSINESS WIRE)-- XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, announced consolidated
About this update from Xpel, Inc.
[{"type":"text","content":" SAN ANTONIO, Texas--(BUSINESS WIRE)--\nXPEL, Inc. (Nasdaq: XPEL) (the \"Company\"), a global provider of protective films and coatings, announced consolidated results1 for the first quarter of 2025.\n\nFirst Quarter 2025 Overview:\n\n\nRevenue increased 15.2% to $103.8 million in the first quarter of 2025.\n\n\nGross margin of 42.3% in the first quarter of 2025.\n\n\nEBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased 23.2% to $14.4 million, or 13.9% of revenue, compared to $11.7 million, or 13.0% of revenue in the first quarter of 2024.2\n\n\nNet income increased 28.8% to $8.6 million, or $0.31 per basic and diluted share, versus net income of $6.7 million, or $0.24 per basic and diluted share in the first quarter of 2024.\n\n\nRyan Pape, President and Chief Executive Officer of XPEL, commented, \"We are off to a good start in 2025 with both solid top line and bottom line performance. We will remain focused on delivering outstanding products and services to our customers as we navigate the ongoing tariff uncertainty.\"\n\nStock Repurchase Program\n\nThe Company's Board of Directors has authorized the Company to repurchase up to $50 million of the Company's common stock. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors. The repurchase program may be suspended or discontinued at any time.\n\nFinancial Highlights for the First Quarter 2025:\n\nSummary consolidated financial information for the first quarter 2025 and 2024 (unaudited, dollars in thousands):\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n% Change\n\n\n\n\n\n \n\n\n\n2025\n\n\n\n%\n\n\nof Total Revenue\n\n\n\n \n\n\n\n2024\n\n\n\n \n\n\n\n%\n\n\nof Total Revenue\n\n\n\n \n\n\n\n2025 vs. 2024\n\n\n\n\n\nTotal revenue\n\n\n\n$\n\n\n\n103,805\n\n\n\n \n\n\n\n100.0\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n90,104\n\n\n\n \n\n\n\n \n\n\n\n100.0\n\n\n\n%\n\n\n\n \n\n\n\n15.2\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n \n\n\n\n43,896\n\n\n\n \n\n\n\n42.3\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n37,876\n\n\n\n \n\n\n\n \n\n\n\n42.0\n\n\n\n%\n\n\n\n \n\n\n\n15.9\n\n\n\n%\n\n\n\n\n\nOperating Expenses\n\n\n\n \n\n\n\n32,776\n\n\n\n \n\n\n\n31.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n28,6...